Hello, thanks for clicking!
I need some advice on how Home loans and government fees work. I have signed my contract to purchase my land (Private sale through a real estate agent) and am just about to pick colours and sign a contract to build a house.
Our land was $180,000
Our house will be about $240,000
We will be building in Wallan in Victoria which is considered rural.
I am a first home owner so am eligible for the FHOG.
What I need help with is the following:
1) How and when do I pay my stamp duty?
2) Is this based on my land or house and land?
3) Is this money included in my Mortgage or do I have to pay out of my savings. If I pay out of my savings does the bank include it as my deposite or do I have to find the money to replace it?
I have so many more questions but thats all I can think of right now... Thank you in advance for your help!